7. Solving for dominant strategies and the Nash equilibrium Suppose Raphael and Susan are playing...
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7. Solving for dominant strategies and the Nash equilibrium Suppose Raphael and Susan are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Raphael chooses Right and Susan chooses Right, Raphael will receive a payoff of 7 and Susan will receive a payoff of 4. Susan Len Right Lett 6,3 Raphael Right 3.3 Left The only dominant strategy in this game is for to choose Right The outcome reflecting the unique Nash equilibrium in this game is as follows: Raphael chooses and Susan chooses
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